Trees Corporation acquired 2707461 Ontario Ltd. Barnard Cann Ltd. for CAD 0.64 million on July 13, 2022. Consideration will be paid as CAD 0.025 in cash and a credit against the purchase price for CAD 50,000 previously advanced to Barnard Cann Ltd. by Trees and Any working capital deficiency or excess paid in accordance with the agreement. In addition, 2707461 Ontario Ltd. has debts in the amount of approximately CAD 380,000. On closing, a further debt in the amount of CAD 350,000 owing by Barnard Cann Ltd. to a creditor was terminated in exchange for the issuance by Trees of an unsecured convertible debenture in the amount of CAD 180,000 payable to the creditor.

Trees Corporation completed the acquisition of 2707461 Ontario Ltd. Barnard Cann Ltd. on July 13, 2022.